Question 1. Below are the choices made by Albert, Brittney, and Calvin when choosing from different sets of fruits. Menu Albert's choices Brittney's choices Calvin's choices Apple, Banana (1) (2) (3) Apple, Banana Banana, Pear Apple, Pear Apple Pear Apple Pear Banana Apple Banana Apple Banana Apple Apple, Banana, Pear Apple 1. Can Albert's choices be represented by any utility function? If so, find a utility function that represents his choices. If not, explain why by finding contradictions in the implications of his choices. 2. Do Albert's choices violate Axiom a or 3? 3. Can Brittney's choices be represented by any utility function? If so, find a utility function that represents her choices. If not, explain why by finding contradictions in the implications of her choices.
Question 1. Below are the choices made by Albert, Brittney, and Calvin when choosing from different sets of fruits. Menu Albert's choices Brittney's choices Calvin's choices Apple, Banana (1) (2) (3) Apple, Banana Banana, Pear Apple, Pear Apple Pear Apple Pear Banana Apple Banana Apple Banana Apple Apple, Banana, Pear Apple 1. Can Albert's choices be represented by any utility function? If so, find a utility function that represents his choices. If not, explain why by finding contradictions in the implications of his choices. 2. Do Albert's choices violate Axiom a or 3? 3. Can Brittney's choices be represented by any utility function? If so, find a utility function that represents her choices. If not, explain why by finding contradictions in the implications of her choices.
Chapter21: Demand: Consumer Choic
Section: Chapter Questions
Problem 1E
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Transcribed Image Text:Question 1.
Below are the choices made by Albert, Brittney, and Calvin when choosing from different sets of fruits.
Albert's choices
Brittney's choices Calvin's choices
Menu
Apple, Banana
Apple, Banana
Banana, Pear
Apple, Pear
Apple
Pear
(2)
(3)
Apple
(4) Apple, Banana, Pear
Apple
1. Can Albert's choices be represented by any utility function? If so, find a utility function that
represents his choices. If not, explain why by finding contradictions in the implications of his choices.
2. Do Albert's choices violate Axiom a or 3 ?
Banana
Apple
Banana
Apple
Pear
Apple
Banana
3. Can Brittney's choices be represented by any utility function? If so, find a utility function that
represents her choices. If not, explain why by finding contradictions in the implications of her choices.
4. Do Brittney's choices violate Axiom a or 3?
5. Can Calvin's choices be represented by any utility function? If so, find a utility function that
represents his choices. If not, explain why by finding contradictions in the implications of his choices.
6. Do Calvin's choices violate Axiom a or 3?
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